Hong Kong Case Law: Decisions & Judgments

Topic

Share mortgage

Legal area

Court

22 Jul 2022

PROFIT CASTLE HOLDINGS LTD AND ANOTHER v. OASIS BEAUTY LTD

Citation

[2022] HKCFI 2201
Court

Court of First Instance
Case number

HCA785/2021

The contemporaneous documentary evidence (Town Health board minutes and public announcements), the parties' subsequent conduct (including repeated interest payments and negotiation of a Modification Deed), and lack of credible particulars establish that the alleged oral representations were not made and there is no triable issue; accordingly summary judgment was entered for Oasis Beauty on the amount due under the Promissory Note and Guarantee and the Plaintiffs' statement of claim was struck out.
18 Apr 2012

SUPER MASTER INVESTMENTS LTD v. POWER APEX LTD AND ANOTHER

Citation

SUPER MASTER INVESTMENTS LTD v. POWER APEX LTD AND ANOTHER
Court

Court of First Instance
Case number

HCMP2496/2011

Where a plaintiff establishes a good arguable proprietary claim to assets and the defendants are not shown to be bona fide purchasers without notice, the court should grant or restore an interlocutory Mareva injunction to preserve the assets pending trial; disclosure orders may be granted but limited to what is necessary to give effect to the injunction.
19 Dec 2011

HONG DA DEVELOPMENT & INVESTMENT HOLDING CO LTD v. CHINA AOYUAN PROPERTY GROUP LTD AND OTHERS

Citation

HONG DA DEVELOPMENT & INVESTMENT HOLDING CO LTD v. CHINA AOYUAN PROPERTY GROUP LTD AND OTHERS
Court

Court of First Instance
Case number

HCA1377/2011

No serious issue to be tried was shown on the principal pleaded causes (contractual duty from counter-guarantee, fiduciary duty, mortgagee bad faith, dishonest assistance, knowing receipt, conspiracy); the counter-guarantee did not, on available material, create the wide protective duties alleged and could not be said conclusively to be superseded but in any event did not import the duties claimed; a mortgagee/assignee with multiple securities may elect which to enforce and Zhen Fu's conduct was, on the material before the court, part of a genuine purpose to recover the debt; Hong Da had not…
6 Dec 2010

CHEN LIP KEONG v. EVOLUTION MASTER FUND LTD SPC, SEGREGATED PORTFOLIO M

Citation

CHEN LIP KEONG v. EVOLUTION MASTER FUND LTD SPC, SEGREGATED PORTFOLIO M
Court

Court of First Instance
Case number

HCA575/2010

Summary judgment refused because material factual disputes (notably the validity and terms of the alleged oral Put Option, the calculation and entitlement to default interest and indemnity, and the lawfulness of sub‑mortgaging the charged shares) and complex questions of contractual construction could not be resolved on affidavit evidence; estoppel could not be established as a matter of law on the material before the court and clauses in the Loan Agreement weighed against finding waiver by conduct; accordingly the matter must proceed to trial.
28 Jan 2008

ALL OVERSEAS LTD AND ANOTHER v. WYLIE INDUSTRIAL LTD AND OTHERS

Citation

ALL OVERSEAS LTD AND ANOTHER v. WYLIE INDUSTRIAL LTD AND OTHERS
Court

Court of First Instance
Case number

HCA405/2003

Summary judgment was appropriate in part because the Court of Appeal's determination that Lau was not and never was a director meant his purported 2002 sale and assignment on behalf of Billion Top were void ab initio; therefore Wylie obtained no legal title and could not rely on bona fide purchaser or Turquand protections, and there was no basis to stay the present summary application pending the imminent winding‑up hearing of the 1st defendant.
22 Mar 2006

ALL OVERSEAS LTD AND OTHERS v. BEST CODES NOMINEES LTD AND OTHERS

Citation

ALL OVERSEAS LTD AND OTHERS v. BEST CODES NOMINEES LTD AND OTHERS
Court

Court of Appeal
Case number

CACV329/2005

The Court held that D4, even acting as proxy, failed to follow the proper procedure to requisition and convene the EGM (no requisition to the remaining director), and that registration is required to confer legal shareholder status so D4 could not have the shares registered without applying to the existing board; accordingly Questions 1 and 2 are answered in the negative, the EGM of 31 August 2002 is void and the purported appointments/removals are invalid; the judge below erred in refusing to determine those questions and the plaintiffs are entitled to declarations and injunctions sought (ot…
20 Sept 2005

ALL OVERSEAS LTD AND OTHERS v. BEST CODES NOMINEES LTD AND OTHERS

Citation

ALL OVERSEAS LTD AND OTHERS v. BEST CODES NOMINEES LTD AND OTHERS
Court

Court of First Instance
Case number

HCA4515/2002

Because there was a genuine and material dispute as to whether the HK$600,000 loan had been repaid, the plaintiffs' applications under Order 14/14A could not succeed on affidavit evidence alone; the defendants raised arguable defenses meriting trial and therefore were granted unconditional leave to defend.
4 Feb 2005

HUA NAN COMMERCIAL BANK LTD v. KELVIN EDWARD FLYNN

Citation

HUA NAN COMMERCIAL BANK LTD v. KELVIN EDWARD FLYNN
Court

Court of First Instance
Case number

HCCW622/2004

The Share Mortgage gave the Bank the contractual right to have the FIHL shares transferred and registered in its name upon events of default which had occurred; the provisional liquidator withdrew opposition and the court therefore ordered the provisional liquidator to execute the transfer (and empowered the Registrar to sign if the liquidator failed) and awarded costs on an indemnity basis pursuant to the mortgage indemnity clause.
4 Oct 2004

TRAFFIC STREAM INFRASTRUCTURE CO LTD AND OTHERS v. FULL WISDOM HOLDINGS LTD AND OTHERS

Citation

TRAFFIC STREAM INFRASTRUCTURE CO LTD AND OTHERS v. FULL WISDOM HOLDINGS LTD AND OTHERS
Court

Court of Final Appeal
Case number

FAMV15/2004

Leave to appeal refused because the evidence of PRC law relied on by applicants was unsatisfactory and inadmissible as a basis to resist summary judgment, and because applicants conceded the JV contracts were valid at inception and only 'became' illegal (if at all) after the State Council Notice, thereby engaging clause 501(11)(c) which negated any mutual mistake defence; no question of great general or public importance arose and there was inexcusable delay.
16 Jun 2004

FULL WISDOM HOLDINGS LTD AND OTHERS v. TRAFFIC STREAM INFRASTRUCTURE CO LTD AND OTHERS

Citation

FULL WISDOM HOLDINGS LTD AND OTHERS v. TRAFFIC STREAM INFRASTRUCTURE CO LTD AND OTHERS
Court

Court of Appeal
Case number

CACV266/2003

Appeal dismissed. The Court held the personal defendants failed to establish a triable defence: the State Council Notice did not incontrovertibly render the Joint Venture Contracts void ab initio; the PRC legal opinion and Mr Albert's opinions lacked sufficient analysis and credibility; and section 501 of the Indenture and the Share Mortgage preserved the plaintiffs' enforcement rights. Summary judgment below was correctly granted.